45 replies to this topic

[antcole]

Im staggered at the sheer greed of these insurance companies!!!
It boils my blood to be quite frank, its a racket, a scam, a bloody out and out rip off.

Ive just run quote after quote after quote for insurance on a 1993 mini city 998cc..... for a 17yr old first time driver, passed yesterday (first time).....
Its incredible, im getting quotes of between 3500 and 5000 for third party fire & theft.....

Its enough to demand someone needs to bring these a****les down just like the money grabbing banks and their seemingly endless lust for OUR hard earned money.....

Two words describe insurers these days - thieves and cheats....

A necessary and legalised scam that just seems to operate in a law unto its own.

Does anyone know of any insurer that can get a 17yr old new driver legally covered without a premium costing two and a half times the cost of the car?
Im just stunned at the state this country is in, financially crippled and its not too difficult to see who is crippling it!!

Edited by antcole, 15 June 2012 - 04:54 PM.

[Down&Out]

My insurance was £1650 fully comp at 17, after getting quotes like yours.

This is normal insurance too, not classic.

One tip is to put a parent as a named driver, took 400 quid off mine when i put my dad on. Also, try fully comp too because wierdly, third part and TPFT was more than fully comp when i was getting quotes.

[antcole]

My insurance was £1650 fully comp at 17, after getting quotes like yours.

This is normal insurance too, not classic.

One tip is to put a parent as a named driver, took 400 quid off mine when i put my dad on. Also, try fully comp too because wierdly, third part and TPFT was more than fully comp when i was getting quotes.

Good call mate, i will have another try with what you recommend.....
Is it better to phone these money grabbing bandits or use online quotes?

[purple_fly06]

Its pretty dear, on my 1980 850 super i was paying £2600 TPFT as a named driver with both of my parent on.

When i passed it was £2800 TPFT still with both my parents on, on an 850!!!

I am 18 now and have been driving a year and i am paying £1200 Fully comp on my own policy with no other drivers, but that is with LVE. The problem is that insurance companies don't like insuring us young 'uns on classics.

and your right ITS LEGALISED STEALING! Thats why i cant understand why the country is in so much debt.

[jac114]

in same boat here too.. Altough as a learner driver i did find a company tpft for £949 on limited milage I guess that will jump when he passes his test because there will be more risk due to more miles covered.. and trust me your not saying anything the rest of us didnt already know.. kids these days have got it very hard when looking at the two main things house's and car insurance unless they a some super sports star or musician

[antcole]

in same boat here too.. Altough as a learner driver i did find a company tpft for £949 on limited milage I guess that will jump when he passes his test because there will be more risk due to more miles covered.. and trust me your not saying anything the rest of us didnt already know.. kids these days have got it very hard when looking at the two main things house's and car insurance unless they a some super sports star or musician

Its so dis-heartening to see the enthusiasm in their characters taking a hit for something that has been a dream and an ambition for so many years.
Ok, i get it that there are so many fraudsters and uninsured drivers plus these 'ambulance chasing' accident claims companies fuelling the amount of payouts on insurance policies these days, but, driving a motor vehicle is very close to essential necessity for anyone these days.... especially for those like our 'young-uns' who are seeking work.... work which invariably is never in the town they might live in.....

You know what, i even tried a couple of the companies that offer digital tracking devices to keep track of their driving and to see if theyre behaving etc..... one of them quoted 4300 bloody quid!!! Gary Lineker can ram his pep talk..... maybe he can afford to insure all of his kids cars.....

Its so disappointing, they just want to get out there and start racking up a track record and start living life with the freedom of being able to drive where they want to be...... something needs to be done about the scamming insurers.... but nothing will ever be done sadly.....

[DanSeal91]

Just a heads up dunno if there still doing it now. But although footman James say they don't cover under 21 if you ring them up they do as a named driver!


I was paying with autotrader insurance at 17 1600 third party, named driver then when I found about footman James accepting over the phone under 21 drivers mine came down to 400!!!!

Dunno if this helps but thought it might be worth a go...

Dan

[Steely]

When I insured mine for the first time it was cheaper for fully comp insurence than 3rd party :z. And yes having a parent or 2 as a named driver was better still for me.

[Adamz946]

This is crazy! Got insured on an '86 mayfair 998 last july for £1500 paying monthly(usually few hundred more). Got both parents on as named drivers which took 5-700 off the price.

Remember doing mock quotes at the time for when i'm 18 and with 1 years NCD ( which is in less than a month now ) and it was £600 for the year on renewal.
Now that my renewal is fast approaching, quotes are coming out at the 1000 mark! How can it possible go up even more?!!?!!!

[DanSeal91]

This is crazy! Got insured on an '86 mayfair 998 last july for £1500 paying monthly(usually few hundred more). Got both parents on as named drivers which took 5-700 off the price.

Remember doing mock quotes at the time for when i'm 18 and with 1 years NCD ( which is in less than a month now ) and it was £600 for the year on renewal.
Now that my renewal is fast approaching, quotes are coming out at the 1000 mark! How can it possible go up even more?!!?!!!

I did hear a tale that insurance premiums had gone up 20-30%



Ridiculous.

[AVV IT]

It's easy to simply accuse the insurers of extortion and profiteering, but unfortunately these ridiculously high premiums actually do cover the cost of the ever increasing cost of claims. The motor insurance industry has actually reported the cost of claims outweighing the income they get in premiums in some years recently, which is partly why premiums keep increasing year upon year.

In terms of young drivers, the problem isn't so much about the cost of repairing damage to vehicles, but more about the risk they pose to third parties and in particular in causing personal injury claims. According the Association of British Insurers, young inexperienced drivers not only have more accidents and therefore create more claims than older more experienced drivers do, but they are also tend be responsible for the more serious types of accidents too. These typically arise in bigger claims that generally involve significant personal injury claims and huge legal costs as well. As a spokesman for the association once put it, "statistically it's not so much about IF a 17 year old driver will have an accident, it's more about WHEN" and according to data from the road safety charity BRAKE, statistically 74% of all serious and fatal road collisions involve 16-19 year olds.

In some cases though insurers simply don't wan't young drivers business. Despite the massive premiums that they get from them, they still don't want all the administration costs that are involved in processing the large claims that are likely to occur when insuring a young driver. They therefore hike the premium up to make it uncompetitive, in the hope that young drivers will take their business elsewhere.

[yeti21586]

My brother in law is 17 and had insurance on his car for just over a grand with his mum on the insurance as a named driver but him as the main driver, he's also got a tracker which monitors his speed and time of day he's driving as he's not alowed to drive after a certain time and before a certain time in morning and evening
I shall try and find out from him which company it's through


YetI

[antcole]

My brother in law is 17 and had insurance on his car for just over a grand with his mum on the insurance as a named driver but him as the main driver, he's also got a tracker which monitors his speed and time of day he's driving as he's not alowed to drive after a certain time and before a certain time in morning and evening
I shall try and find out from him which company it's through


YetI

Id appreciate any info you have on that mate, its becoming a nightmare to be honest....

They need rock star wages to afford insurance.... its an absolute farce.

[Carlos W]

Insurance companies blame uninsured drivers for pushing up premiums but then make it almost impossible for young drivers to get insurance and build up no claims.

Some tips.
Add a parent with a good driving record as a second driver on the policy.

Don't be tempted to take out policies in your parents name on your mini with you as a second driver. If you drive the car the most, you have to be the named driver. If you're found to be 'fronting' your insurance may be invalid.

Declare mods or keep the car standard.

I'd like to see a scheme where young people get a percentage of their premium back if they do not claim on the policy.

Finally, look into using a cashback website like this one http://www.topcashba...ref/carl_waldie to get cash back on your policy. (This also works for ebay purchases etc)

[Old Bob]

Easy to blame insurance companies but they are in business to make a profit for their shareholders. Just one driver having a serious accident (say a crash which puts your passenger in a wheel chair for the rest of his/her life) and the claim will be for several million. How many young drivers does a company have to insure to recover that sort of loss?

Young people have accidents. Fact of life and a perfectly natural result of enthusiasm and lack of experience. So, some of the very high quotes you are seeing are a polite way of saying "We would honestly prefer you to take your business elsewhere and let someone else pick up the bill"

Instead of ranting, shop around and see how you might be able to reduce your premium.

Bob